Ripple Custody, Ripple’s platform for safeguarding its assets, has announced that it has added new bank-level solutions for crypto and fintech companies.
We’re launching new features for Ripple Custody, bringing bank-grade custody solutions to fintech and crypto businesses.
Simplified onboarding
#XRPL tokenization & DEX support
Pre-configured policy frameworks
R/T compliance monitoring
New UIhttps://t.co/gejagnouTS
— Ripple (@Ripple) October 10, 2024
“We are launching new features for Ripple Custody, bringing bank-level custody solutions to fintech and crypto companies. Simplified onboarding, #XRPL tokenization and DEX support, Preconfigured policy frameworks, R/T compliance monitoring, New user interface.”
Among the various functions, Ripple Custody has integrated with Elliptic, new transaction screening services, to help customers monitor transactions in real-time, along with the addition of options for the hardware security module (HSM).
New features have also been added to the operational and policy frameworks of the platform, in order to simplify their selection, distribution, maintenance, and use.
Furthermore, to improve the usability of the platform, a new more intuitive user interface has been introduced. In practice, integrations with external identity providers allow users to access through their preferred systems based on OAuth or OIDC, offering greater flexibility and convenience to business customers.
Finally, and not least, Ripple Custody has also integrated XRP Ledger (XRPL) for the tokenization of Real World Assets (RWA).
Ripple Custody: crypto companies can now use XRPL for the tokenization of RWA
Ripple Custody now supports the tokenization features of XRP Ledger, allowing companies to tokenize and manage a wide range of assets, including cryptocurrencies, fiat currencies, and real-world assets (RWA).
In this way, the platform dedicated to the custody of assets aims to facilitate the issuance of new digital assets and their secure transfers directly from Ripple Custody,
This integration also provides seamless access to the native XRPL decentralized exchange (DEX), for efficient and low-cost trading of any tokenized asset.
Regarding all the news about Ripple Custody, Aaron Slettehaugh, SVP of Product at Ripple, commented:
“Ripple’s custody technology offers a unique platform for the safeguarding and management of digital assets, designed with the security and compliance standards relied upon by the world’s leading banks and financial institutions. With the new features, Ripple Custody is expanding its capabilities to better serve the rapidly growing crypto and fintech enterprises with secure and scalable custody of digital assets.”
On X, the President of Ripple, Monica Long, and the CEO of Ripple, Brad Garlinghouse, commented as follows:
“Ripple Custody is the technology in fact used by the largest banks in the world, including DBS, SocGen – FORGE, and BBVA. Now we are adding preconfigured operational and policy frameworks, additional HSM options, support for fungible XRPL tokens, and compliance services via @elliptic – bringing this enterprise-level product to companies in the crypto sector.”
“Whether you are a large bank or an agile fintech, to offer cryptocurrency services to your clients you need high-level custody technology. And Ripple Custody is able to offer this service.”
The price of XRP
While at Ripple headquarters the news of the new Ripple Custody solutions is announced, the price of XRP seems to oscillate.
At the time of writing, XRP is worth $0.53, right in the middle of the minimum and maximum prices of the last 24 hours of $0.52 and $0.54.
This price trend is also seen in the last seven days, even though the minimum and maximum prices have been $0.51 and $0.545.
In any case, this price is significantly down compared to the end of September, when XRP had reached a value of 0.66$.
Recently, ChatGPT was consulted to get a price prediction for XRP in October. Based on historical patterns and past trends, ChatGPT’s AI identified that October could become positive for XRP, but without explosive movements in the short term.
In practice, XRP could rise above $0.60 only if there is favorable news about the crypto project on the legal front or if there is a general bull market in the crypto market. Alternatively, ChatGPT predicts that the price range for XRP in October will be $0.55 and $0.65.
